00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. subprime auto borrowers are falling behind on payments as car prices, interest rates, and unemployment rise,
00:08signaling strain among lower-income consumers, according to the Wall Street Journal.
00:11Fitch Ratings said more than 6% of subprime auto loans are 60 days past due, highest on record.
00:17All repossessions hit $1.73 million last year, the most since 2009 for Cox Automotive.
00:22Pancrocy of lender at Tricolor Holdings, which serve borrowers with little or no credit,
00:26highlights mounting stress on financially vulnerable customers.
00:30And I'll say the broader market remains stable as banks and automakers tighten lending standards.
00:34For all things money, visit Benzinga.com.
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